TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
ROSEN JAMES CT

Number and street (or P.O. box number if mail is not delivered to street address)1525 W WT HARRIS BLVD D1114-044 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHARLOTTE, NC28262

A Employer identification number

31-1529233

B Telephone number (see instructions)

(800) 352-3705

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$2,205,105J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	53,269		52,885
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		81,879
b	Gross sales price for all assets on line 6a 647,185
7	Capital gain net income (from Part IV, line 2)...			81,879
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		1,510	14,207
12	Total. Add lines 1 through 11........	136,658		148,971
13	Compensation of officers, directors, trustees, etc.	30,337		22,753		7,584
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,000	0	0	1,000
c	Other professional fees (attach schedule)....		3,196	3,196		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		2,599	1,327		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		1,623	1,363		1,313
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	38,755		28,639	0	9,897
25	Contributions, gifts, grants paid........	101,500				101,500
26	Total expenses and disbursements. Add lines 24 and 25	140,255		28,639	0	111,397
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-3,597
b	Net investment income (if negative, enter -0-)			120,332
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	560	459	459
	2	Savings and temporary cash investments..........	118,312	74,804	74,804
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	789	442	438
	b	Investments—corporate stock (attach schedule)........	1,129,470	1,290,434	1,534,833
	c	Investments—corporate bonds (attach schedule)........	323,562	323,562	303,675
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	413,833	289,876	290,896
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,986,526	1,979,577	2,205,105
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	1,986,526	1,979,577
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions)......	1,986,526	1,979,577
	31	Total liabilities and net assets/fund balances (see instructions)..	1,986,526	1,979,577

Part III	Analysis of Changes in Net Assets or Fund Balances
1	Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
	with end-of-year figure reported on prior year’s return)...............	1	1,986,526
2	Enter amount from Part I, line 27a.....................	2	-3,597
3	Other increases not included in line 2 (itemize)	3	1,208
4	Add lines 1, 2, and 3..........................	4	1,984,137
5	Decreases not included in line 2 (itemize)	5	4,560
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	1,979,577

Form 990-PF (2014)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	65. AFLAC INC COM		2012-02-09	2014-06-18
b	1. AGCO CORP COM		2013-04-26	2014-01-15
c	60. AGCO CORP COM		2012-11-21	2014-01-15
d	15. AIA GROUP LTD-SP ADR		2012-09-07	2014-01-27
e	9. AOL INC		2013-05-13	2014-01-22
	13. AOL INC		2013-08-29	2014-06-19
	75. AOL INC		2013-05-13	2014-06-19
	6. ADIDAS-AG ADR		2011-05-03	2014-05-15
	6. ADIDAS-AG ADR		2011-05-05	2014-07-28
	16. ADIDAS-AG ADR		2011-06-22	2014-07-31
	9. ADIDAS-AG ADR		2011-08-11	2014-08-28
	5. ADIDAS-AG ADR		2014-04-17	2014-09-09
	10. ADIDAS-AG ADR		2012-09-04	2014-09-09
	.9 AIR LIQUIDE ADR FRANCE ADR		2011-01-19	2014-07-31
	123. AMERICAN EQUITY INVT LIFE HLDG CO		2013-12-17	2014-03-07
	11. AMERICAN FINL GRP INC OHIO COM		2013-03-08	2014-01-22
	11. AMERISOURCEBERGEN CORP COM		2012-03-21	2014-11-25
	67. ANHUI CONCH CEMENT-H-UNS ADR		2014-07-14	2014-09-25
	3. ANHEUSER-BUSCH INBEV SPN ADR		2012-05-03	2014-03-14
	17. ANHEUSER-BUSCH INBEV SPN ADR		2011-09-19	2014-03-17
	1. ANHEUSER-BUSCH INBEV SPN ADR		2013-09-24	2014-07-11
	3. ANHEUSER-BUSCH INBEV SPN ADR		2013-09-25	2014-08-05
	3. ANHEUSER-BUSCH INBEV SPN ADR		2013-09-25	2014-08-27
	3. ANHEUSER-BUSCH INBEV SPN ADR		2013-10-18	2014-09-04
	10. ANHEUSER-BUSCH INBEV SPN ADR		2014-02-26	2014-09-30
	2. APACHE CORP COM RTS EXP 01/31/2006		2011-01-12	2014-03-17
	6. APARTMENT INVT & MGMT CO CL A		2011-05-05	2014-04-11
	46. APPLIED INDL TECHNOLOGIES INC COM W/RTS EXP 1/15/2008		2014-02-26	2014-04-02
	7. ARM HLDGS PLC SPONSORED ADR		2011-01-20	2014-07-29
	7. ARM HLDGS PLC SPONSORED ADR		2011-01-20	2014-08-05
	10. ARM HLDGS PLC SPONSORED ADR		2011-01-20	2014-08-26
	8. ASSA ABLOY AB-UNSP ADR		2011-01-20	2014-01-27
	3. ASSA ABLOY AB-UNSP ADR		2011-01-20	2014-01-28
	13. ASSA ABLOY AB-UNSP ADR		2011-01-20	2014-09-30
	12. ASSA ABLOY AB-UNSP ADR		2011-01-20	2014-10-02
	44. ASSA ABLOY AB-UNSP ADR		2011-07-14	2014-10-16
	13. AVIV REIT INC		2014-06-18	2014-11-21
	13. AVIV REIT INC		2014-06-18	2014-11-26
	31. BRE PPTYS INC CL A		2013-12-06	2014-04-03
	15. BAIDU INC ADR		2013-06-11	2014-01-13
	1. BAIDU INC ADR		2012-04-26	2014-03-26
	1. BAIDU INC ADR		2012-04-26	2014-06-25
	4. BANCA MONTE DEI-UNSPON ADR		2014-03-27	2014-05-21
	.1 BANCA MONTE DEI-UNSPON ADR		2014-03-27	2014-05-22
	14. BANCA MONTE DEI-UNSPON ADR		2014-03-28	2014-05-22
	16. BANCA MONTE DEI-UNSPON ADR		2014-04-01	2014-05-23
	236. BANCO BILBAO VIZCAYA ARGENT- ADR		2014-10-27	2014-10-27
	35. BHP LIMITED SPONS ADR COM		2011-01-12	2014-06-18
	35. BHP LIMITED SPONS ADR COM		2014-08-04	2014-12-18
	1. BOSTON PPTYS INC COM		2011-01-19	2014-09-17
	1. BOSTON PPTYS INC COM		2011-01-19	2014-09-24
	8. BROOKDALE SR LIVING INC		2013-05-08	2014-03-24
	1. BURBERRY GROUP PLC-SPON ADR		2012-10-22	2014-03-27
	9. BURBERRY GROUP PLC-SPON ADR		2012-11-28	2014-03-28
	7. BURBERRY GROUP PLC-SPON ADR		2012-11-29	2014-04-17
	6. BURBERRY GROUP PLC-SPON ADR		2013-04-10	2014-08-14
	1. BURBERRY GROUP PLC-SPON ADR		2013-04-10	2014-08-26
	6. BURBERRY GROUP PLC-SPON ADR		2013-12-05	2014-08-26
	14. CVS CORP COM		2011-01-12	2014-03-17
	.6 CALIFORNIA RESOURCES CORP		2011-01-24	2014-12-15
	3. CANADIAN NATL RY CO COM		2011-01-20	2014-05-14
	3. CANADIAN NATL RY CO COM		2011-01-20	2014-05-15
	5. CANADIAN NATL RY CO COM		2011-01-20	2014-07-14
	9. CANADIAN NATL RY CO COM		2011-01-20	2014-07-23
	58. CAPITAL ONE FINL CORP COM RTS EXP 11/29/2005		2011-01-12	2014-08-04
	1. CARNIVAL CORP PAIRED CTF 1 COM		2010-12-24	2014-05-14
	6. CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-05-14
	9. CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-07-28
	9. CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-08-19
	8. CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-08-21
	7.28507 CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-08-27
	.71493 CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-08-27
	8.50704 CARNIVAL CORP PAIRED CTF 1 COM		2013-04-19	2014-09-09
	.49296 CARNIVAL CORP PAIRED CTF 1 COM		2011-01-20	2014-09-09
	20. CHEMED CORP NEW		2014-04-11	2014-07-10
	32. CHEVRONTEXACO CORP COM		2011-01-12	2014-12-18
	5. CHINA MOBILE HK LTD -SP ADR		2013-08-23	2014-09-02
	5. CHINA MOBILE HK LTD -SP ADR		2013-08-26	2014-09-23
	1. CHURCH & DWIGHT CO INC COM W/RIGHTS ATTACHED EXP 9/13/2009		2013-04-26	2014-04-04
	71. CHURCH & DWIGHT CO INC COM W/RIGHTS ATTACHED EXP 9/13/2009		2012-11-21	2014-04-04
	31. CISCO SYS INC COM W/RIGHTS ATTACHED EXPIRING 6/10/2008		2011-02-17	2014-03-17
	4. COACH INC COM W/RTS ATTACHED EXP 5/2/2011		2013-07-19	2014-03-17
	65. COACH INC COM W/RTS ATTACHED EXP 5/2/2011		2013-07-19	2014-06-18
	1. COACH INC COM W/RTS ATTACHED EXP 5/2/2011		2013-07-19	2014-08-04
	50. COCHLEAR LTD-UNSPON ADR		2012-09-19	2014-09-15
	4. COCHLEAR LTD-UNSPON ADR		2012-09-19	2014-09-16
	5. COMCAST CORP NEW CL A		2011-01-12	2014-03-17
	34. COMCAST CORP NEW CL A		2013-02-19	2014-05-28
	13. COMCAST CORP NEW CL A		2013-07-12	2014-05-28
	135. COMPAGNIE DE SAINT-UNSP ADR		2014-10-01	2014-12-09
	.8235 COMPASS GROUP PLC - ADR		2012-12-07	2014-07-18
	19. COMPASS GROUP PLC - ADR		2012-12-07	2014-08-05
	4. CORRECTIONS CORP OF AMERICA COM		2012-08-28	2014-03-24
	13. CORRECTIONS CORP OF AMERICA COM		2013-03-06	2014-09-24
	7. CORRECTIONS CORP OF AMERICA COM		2013-03-13	2014-11-12
	7. CORRECTIONS CORP OF AMERICA COM		2013-03-26	2014-11-19
	4. CORRECTIONS CORP OF AMERICA COM		2013-03-26	2014-11-21
	8. CORRECTIONS CORP OF AMERICA COM		2013-04-03	2014-11-26
	8. CORRECTIONS CORP OF AMERICA COM		2013-04-03	2014-12-03
	9. CORRECTIONS CORP OF AMERICA COM		2013-05-21	2014-12-05
	20. DDR CORP		2012-03-21	2014-11-20
	9. DST SYS INC DEL COM		2013-03-04	2014-03-25
	1. DASSAULT SYSTEMES S.A. SPA ADR		2011-01-20	2014-01-09
	1. DASSAULT SYSTEMES S.A. SPA ADR		2011-01-20	2014-01-10
	1. DASSAULT SYSTEMES S.A. SPA ADR		2011-01-20	2014-01-13
	2. DASSAULT SYSTEMES S.A. SPA ADR		2011-01-20	2014-01-14
	3. DASSAULT SYSTEMES S.A. SPA ADR		2011-01-20	2014-02-06
	3. DASSAULT SYSTEMES S.A. SPA ADR		2013-01-29	2014-02-07
	30. DECKERS OUTDOOR CORP		2014-04-30	2014-10-13
	71. DELUXE CORP COM		2014-04-10	2014-11-07
	5. DIAGEO PLC SPONSORED ADR NEW		2011-01-12	2014-03-17
	20. DISNEY (WALT) COMPANY HOLDING COMPANY COM		2011-01-12	2014-03-17
	45. DISNEY (WALT) COMPANY HOLDING COMPANY COM		2012-03-19	2014-08-12
	13. DISNEY (WALT) COMPANY HOLDING COMPANY COM		2011-01-12	2014-09-10
	80. DOMTAR CORP		2014-06-20	2014-09-30
	64. DRESSER-RAND GROUP INC		2014-01-27	2014-10-13
	963. EII INTERNATIONAL PROPERTY-I #30		2013-08-02	2014-08-14
	963. EII INTERNATIONAL PROPERTY-I #30		2013-08-02	2014-08-15
	963. EII INTERNATIONAL PROPERTY-I #30		2013-08-02	2014-08-18
	964.493 EII INTERNATIONAL PROPERTY-I #30		2013-08-02	2014-08-19
	27. E M C CORP MASS COM		2011-01-12	2014-03-17
	9. ENN ENERGY HOLDINGS-UNSP ADR		2014-01-13	2014-11-18
	5. EPR PROPERTIES		2011-01-19	2014-11-21
	32. ECOLAB INC COM		2013-04-26	2014-06-20
	86. EDUCATION RLTY TR INC		2014-09-10	2014-12-01
	86. EDUCATION RLTY TR INC		2014-09-10	2014-12-01
	.6666 EDUCATION REALTY TRUST INC		2014-09-10	2014-12-17
	10. EMBRAER SA ADR		2011-01-20	2014-08-05
	16. EMBRAER SA ADR		2011-01-20	2014-08-27
	25. EMBRAER SA ADR		2012-07-26	2014-09-23
	3. EQUITY RESIDENTIAL PPTYS TR SH BEN INT		2011-02-22	2014-03-06
	4. EQUITY RESIDENTIAL PPTYS TR SH BEN INT		2011-03-24	2014-06-10
	5. EQUITY RESIDENTIAL PPTYS TR SH BEN INT		2011-03-25	2014-11-20
	.21 ESSEX PPTY TR INC COM W/RTS ATTACHED 11/11/2008		2011-01-19	2014-04-21
	151. EXPRESS INC		2013-11-20	2014-04-30
	8. EXTRA SPACE STORAGE INC		2011-11-28	2014-11-21
	142. EXXON MOBIL CORP COM		2012-03-19	2014-05-28
	11. FANUC CORPORATION ADR		2011-01-20	2014-07-29
	19. FANUC CORPORATION ADR		2011-01-20	2014-09-29
	10. FANUC CORPORATION ADR		2011-01-20	2014-10-01
	21. FANUC CORPORATION ADR		2011-01-20	2014-11-19
	21. FANUC CORPORATION ADR		2013-07-29	2014-11-25
	49.04 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-01-15
	20.21 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-02-15
	37.48 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-03-15
	20.41 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-04-15
	21.4 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-05-15
	23.96 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-06-15
	20.16 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-07-15
	36.75 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-08-15
	19.78 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-09-15
	41.31 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-10-15
	23.08 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-11-15
	17.79 FHLMC POOL #E89118 6.000% 4/01/17		2003-01-23	2014-12-15
	5. FIRST INDL RLTY TR INC COM		2012-05-31	2014-01-29
	9. FIRST INDL RLTY TR INC COM		2012-05-31	2014-03-24
	7. FOMENTO ECONOMICO MEXICANO SP ADR COM		2014-01-14	2014-07-29
	91. FREEPORT MCMORAN COPPER & GOLD CL B W/RTS ATTACHED EXP 5/3/2010		2012-03-19	2014-10-20
	24. FRESENIUS MED CARE AKTIENGESELLSCHAFT SPONSORED ADR		2011-05-20	2014-05-19
	12. FRESENIUS MED CARE AKTIENGESELLSCHAFT SPONSORED ADR		2011-01-20	2014-08-21
	7. FRESENIUS MED CARE AKTIENGESELLSCHAFT SPONSORED ADR		2011-01-20	2014-11-19
	165. GAZPROM O A O SPONSORED ADR		2013-02-04	2014-03-05
	66. GENERAL ELEC CO COM		2011-01-24	2014-02-07
	9. GENERAL GROWTH PROPERTIE-W/I		2011-08-09	2014-07-10
	8. GENERAL GROWTH PROPERTIE-W/I		2011-08-09	2014-09-24
	35. GEOSPACE TECHNOLOGIES CORP		2014-02-04	2014-12-08
	12. GILEAD SCIENCES INC COM		2012-07-02	2014-03-17
	24. GILEAD SCIENCES INC COM		2012-07-02	2014-09-10
	7727.161 GOLDMAN SACHS COMM STRATEGY #2653		2013-08-02	2014-12-04
	6. GOOGLE INC CL A		2013-07-19	2014-12-18
	14. GRAND CANYON EDUCATION INC		2013-09-17	2014-08-21
	15. GRAND CANYON EDUCATION INC		2013-10-24	2014-10-20
	57. GRAND CANYON EDUCATION INC		2013-10-10	2014-10-20
	7. HCP INC		2011-01-19	2014-05-07
	9. HCP INC		2011-01-19	2014-09-17
	3. HCP INC		2011-01-19	2014-11-21
	15. HCP INC		2011-03-24	2014-12-23
	22. HSBC HLDGS PLC SPONSORED ADR NEW		2011-01-24	2014-04-03
	9. HSBC HLDGS PLC SPONSORED ADR NEW		2012-04-26	2014-06-04
	29. HSBC HLDGS PLC SPONSORED ADR NEW		2012-03-19	2014-06-10
	6. HSBC HLDGS PLC SPONSORED ADR NEW		2012-04-26	2014-07-29
	5. HSBC HLDGS PLC SPONSORED ADR NEW		2012-04-27	2014-08-05
	14. HSBC HLDGS PLC SPONSORED ADR NEW		2012-12-14	2014-08-27
	16. HSBC HLDGS PLC SPONSORED ADR NEW		2012-03-19	2014-09-08
	7. HSBC HLDGS PLC SPONSORED ADR NEW		2014-05-28	2014-09-08
	166. HEARTLAND EXPRESS INC COM		2014-03-05	2014-06-09
	38. HENNES & MAURITZ AB ADR		2011-01-20	2014-10-02
	47. HENNES & MAURITZ AB ADR		2011-01-20	2014-10-10
	69. HEXCEL CORP NEW COM		2013-05-15	2014-04-11
	25. HONG KONG EXCH & CLEARING LTD -ADR		2011-01-20	2014-03-14
	11. HONG KONG EXCH & CLEARING LTD -ADR		2011-01-20	2014-03-17
	14. HONG KONG EXCH & CLEARING LTD -ADR		2011-01-20	2014-03-18
	12. HONG KONG EXCH & CLEARING LTD -ADR		2011-01-20	2014-03-19
	21. HONG KONG EXCH & CLEARING LTD -ADR		2011-01-20	2014-03-20
	71. HORNBECK OFFSHORE SVCS INC NEW		2013-04-26	2014-02-04
	10. HOST MARRIOTT CORP NEW COM		2011-01-03	2014-03-06
	9. HOST MARRIOTT CORP NEW COM		2011-01-19	2014-06-10
	27. INDUST AND COMM BK OF CHINA - ADR		2011-01-20	2014-01-10
	12. INDUST AND COMM BK OF CHINA - ADR		2011-01-20	2014-02-06
	51. INDUST AND COMM BK OF CHINA - ADR		2011-01-27	2014-02-12
	9. ING GROEP N V SPONSORED ADR		2013-06-28	2014-05-15
	12. ING GROEP N V SPONSORED ADR		2013-07-01	2014-05-16
	47. ING GROEP N V SPONSORED ADR		2013-07-10	2014-07-11
	16. INTESA SANPAOLO-SPON ADR		2013-09-18	2014-02-10
	33. INTESA SANPAOLO-SPON ADR		2013-10-11	2014-04-16
	41. INTESA SANPAOLO-SPON ADR		2013-11-26	2014-10-10
	6. INTUITIVE SURGICAL INC		2011-03-08	2014-01-30
	15. ITAU UNIBANCO H-SPON PRF ADR		2011-05-04	2014-01-30
	25. ITAU UNIBANCO H-SPON PRF ADR		2011-07-20	2014-02-03
	13. ITAU UNIBANCO H-SPON PRF ADR		2013-05-24	2014-03-27
	33. ITAU UNIBANCO H-SPON PRF ADR		2012-04-26	2014-03-27
	.5 ITAU UNIBANCO H-SPON PRF ADR		2011-01-15	2014-06-19
	65.00155 ITAU UNIBANCO H-SPON PRF ADR		2011-01-19	2014-10-09
	36.99845 ITAU UNIBANCO H-SPON PRF ADR		2012-07-30	2014-10-09
	5. JGC CORP-UNSPONSORED ADR		2011-05-11	2014-03-14
	8. JP MORGAN CHASE & CO COM		2011-01-12	2014-03-17
	4. JOHNSON CTLS INC COM W/RTS ATTACHED EXP 11/30/2004		2013-07-19	2014-03-17
	25. JOHNSON CTLS INC COM W/RTS ATTACHED EXP 11/30/2004		2011-03-21	2014-03-17
	24. KINGFISHER PLC - ADR		2011-01-20	2014-04-03
	15. KOMATSU LTD SPONSORED ADR NEW		2011-01-20	2014-01-14
	14. KOMATSU LTD SPONSORED ADR NEW		2012-07-27	2014-01-31
	10. KOMATSU LTD SPONSORED ADR NEW		2012-09-19	2014-02-04
	12. KOMATSU LTD SPONSORED ADR NEW		2012-09-19	2014-02-05
	10. KOMATSU LTD SPONSORED ADR NEW		2013-06-13	2014-02-05
	14. KONE OYJ-B-UNSPONSORED ADR		2013-08-27	2014-08-22
	28. KONE OYJ-B-UNSPONSORED ADR		2013-09-26	2014-08-28
	12. KONE OYJ-B-UNSPONSORED ADR		2013-08-27	2014-08-28
	10. KUBOTA LTD COM		2013-04-12	2014-12-04
	3. LUMH MOET HENNESSY LOUIS VUITTON		2011-01-20	2014-01-15
	10. LUMH MOET HENNESSY LOUIS VUITTON		2011-01-20	2014-08-21
	9. LUMH MOET HENNESSY LOUIS VUITTON		2011-01-20	2014-11-19
	4. LAS VEGAS SANDS CORP		2011-12-20	2014-02-05
	3. LAS VEGAS SANDS CORP		2012-01-10	2014-10-02
	11. LAS VEGAS SANDS CORP		2012-03-22	2014-10-14
	3. LAS VEGAS SANDS CORP		2014-04-16	2014-10-15
	14. LAS VEGAS SANDS CORP		2012-07-24	2014-10-15
	24. LASALLE HOTEL PPTYS COM SH BEN INT		2013-12-20	2014-07-01
	22. LENNOX INTERNATIONAL INC COM W/RIGHTS ATTACHED EXP 7/27/2010		2014-01-15	2014-04-28
	22. LENNOX INTERNATIONAL INC COM W/RIGHTS ATTACHED EXP 7/27/2010		2014-01-15	2014-05-08
	9. LITHIA MOTORS INC CL A COM		2013-09-16	2014-07-21
	7. LULULEMON ATHLETICA INC		2013-01-30	2014-08-22
	5. MASTERCARD INC		2014-01-31	2014-11-18
	5. MASTERCARD INC		2014-02-04	2014-12-03
	26. MCDONALDS CORP COM		2011-01-24	2014-09-08
	4. MCKESSON HBOC INC COM		2013-07-19	2014-03-17
	49. MEDICAL PPTYS TR INC		2013-04-16	2014-06-23
	1. MERCADOLIBRE INC		2011-09-20	2014-01-30
	1. MERCADOLIBRE INC		2013-11-20	2014-04-17
	10. MERCADOLIBRE INC		2012-11-28	2014-04-17
	14. MICHELIN (CGDE) ADR		2012-03-13	2014-07-28
	31. MICHELIN (CGDE) ADR		2012-03-13	2014-09-23
	54. MICHELIN (CGDE) ADR		2013-11-21	2014-11-24
	4. MICROSOFT CORP COM		2011-01-12	2014-03-17
	59. MILLER (HERMAN) INC COM W/RTS ATTACHED EXP 7/12/2009		2013-11-11	2014-03-05
	64. MITSUBISHI UFJ FINANCIAL GROUP INC ADR		2011-01-20	2014-02-12
	60. MITSUBISHI UFJ FINANCIAL GROUP INC ADR		2011-01-20	2014-05-01
	52. MITSUBISHI UFJ FINANCIAL GROUP INC ADR		2011-01-20	2014-08-28
	55. MITSUBISHI UFJ FINANCIAL GROUP INC ADR		2011-02-03	2014-09-26
	142. MITSUBISHI UFJ FINANCIAL GROUP INC ADR		2013-04-12	2014-10-10
	15. MONSTER BEVERAGE CORP		2014-03-17	2014-09-10
	31. MYRIAD GENETICS INC COM		2012-11-16	2014-03-10
	93. MYRIAD GENETICS INC COM		2013-08-29	2014-09-10
	28. MYRIAD GENETICS INC COM		2013-12-23	2014-09-10
	2. NESTLE S A SPONSORED ADR REPSTG REG SH		2011-01-20	2014-01-08
	10. NESTLE S A SPONSORED ADR REPSTG REG SH		2011-01-12	2014-03-17
	7. NESTLE S A SPONSORED ADR REPSTG REG SH		2011-01-20	2014-09-30
	5. NESTLE S A SPONSORED ADR REPSTG REG SH		2011-01-20	2014-10-01
	8. NESTLE S A SPONSORED ADR REPSTG REG SH		2011-01-20	2014-11-07
	3. NESTLE S A SPONSORED ADR REPSTG REG SH		2011-01-20	2014-12-03
	25. NEUSTAR INC		2013-03-05	2014-01-14
	42. NEUSTAR INC		2012-11-28	2014-01-14
	30. NOKIA CORP SPONSORED ADR		2013-11-22	2014-10-09
	148. NOKIA CORP SPONSORED ADR		2014-04-30	2014-10-23
	30. NOKIAN TYRES OYJ-UNSPON ADR		2012-03-08	2014-03-12
	72. NOKIAN TYRES OYJ-UNSPON ADR		2012-09-19	2014-03-13
	4. NOVARTIS AG SPONSORED ADR		2011-01-20	2014-02-19
	3. NOVARTIS AG SPONSORED ADR		2011-01-20	2014-09-23
	2. NOVARTIS AG SPONSORED ADR		2011-01-20	2014-09-25
	4. NOVARTIS AG SPONSORED ADR		2011-01-20	2014-10-01
	6. NOVO-NORDIST A S ADR		2011-01-20	2014-02-19
	6. NOVO-NORDIST A S ADR		2011-01-20	2014-03-10
	6. NOVO-NORDIST A S ADR		2011-01-20	2014-03-26
	8. NOVO-NORDIST A S ADR		2011-01-20	2014-04-03
	8. NOVO-NORDIST A S ADR		2011-01-20	2014-05-01
	2. NOVO-NORDIST A S ADR		2011-01-20	2014-05-15
	5. NOVO-NORDIST A S ADR		2011-01-20	2014-05-16
	6. NOVO-NORDIST A S ADR		2011-01-20	2014-08-22
	.5 NOW INC/SH		2013-07-19	2014-06-17
	13. NOW INC/SH		2013-07-19	2014-06-18
	63. OLD DOMINION FREIGHT LINES INC		2013-05-21	2014-02-06
	7. OLYMPUS CORPORATION - ADR		2014-04-16	2014-09-26
	13. OLYMPUS CORPORATION - ADR		2014-04-30	2014-12-04
	4. ORACLE CORP COM		2011-01-12	2014-03-17
	67. OWENS ILLINOIS INC COM NEW		2013-04-26	2014-01-30
	16. BANK MANDIRI TBK UNSPON ADR		2013-01-25	2014-01-27
	5. BANK MANDIRI TBK UNSPON ADR		2013-02-05	2014-01-27
	30. BANK MANDIRI TBK UNSPON ADR		2013-07-29	2014-01-28
	18. BANK MANDIRI TBK UNSPON ADR		2013-07-30	2014-01-29
	9. PACIFIC RUBIALES ENERGY CORP		2013-05-22	2014-05-23
	20. PACIFIC RUBIALES ENERGY CORP		2013-05-23	2014-05-23
	12. PACIFIC RUBIALES ENERGY CORP		2013-06-03	2014-07-10
	13. PACIFIC RUBIALES ENERGY CORP		2013-06-04	2014-07-11
	3. PACIFIC RUBIALES ENERGY CORP		2013-07-12	2014-07-11
	33. PACIFIC RUBIALES ENERGY CORP		2013-12-20	2014-07-14
	7. PACIFIC RUBIALES ENERGY CORP		2013-07-12	2014-07-14
	5563.76 PARTNERS GROUP PRIV EQ 5% HOLDBACK		2014-09-30	2014-09-30
	6924.4 PARTNERS GROUP PRIV EQ TEI LLC (RF)		2010-11-22	2014-09-30
	12. PEARSON PLC SPONSORED ADR		2012-02-02	2014-07-22
	35. PEARSON PLC SPONSORED ADR		2012-02-03	2014-08-22
	17. PEARSON PLC SPONSORED ADR		2012-04-30	2014-08-28
	16. PEARSON PLC SPONSORED ADR		2012-05-24	2014-09-09
	22. PENNSYLVANIA REAL ESTATE INVT TR SH BEN INT W/RIGHTS ATTACHED EXP		2012-12-21	2014-02-19
	21. PENNSYLVANIA REAL ESTATE INVT TR SH BEN INT W/RIGHTS ATTACHED EXP		2012-12-27	2014-03-04
	73. PETROLEO BRASILEIRO SA PETROBRAS ADR		2012-10-03	2014-01-13
	55. PETSMART INC COM W/RTS ATTACHED EXP 08/2		2014-10-20	2014-12-23
	35. PROLOGIS INC		2011-01-28	2014-01-29
	59. PROTO LABS INC		2014-04-28	2014-11-19
	11. PUBLICIS S A NEW SPONSORED ADR		2011-01-20	2014-05-14
	13. PUBLICIS S A NEW SPONSORED ADR		2011-01-20	2014-05-15
	19. PUBLICIS S A NEW SPONSORED ADR		2011-01-20	2014-08-22
	17. PUBLICIS S A NEW SPONSORED ADR		2011-01-20	2014-09-24
	47. PUBLICIS S A NEW SPONSORED ADR		2011-01-20	2014-10-10
	26. QUESTCOR PHARMACEUTICALS INC		2012-03-21	2014-04-08
	39. QUESTCOR PHARMACEUTICALS INC		2013-12-23	2014-04-08
	14. RAMCO-GERSHENSON PPTYS TR COM		2012-05-18	2014-01-29
	13. RAMCO-GERSHENSON PPTYS TR COM		2012-05-18	2014-05-30
	17. RECKITT BENCKIS/S ADR		2011-01-20	2014-04-30
	18. RECKITT BENCKIS/S ADR		2011-01-20	2014-08-21
	11. RECKITT BENCKIS/S ADR		2011-01-20	2014-11-07
	36. RECKITT BENCKIS/S ADR		2011-01-20	2014-12-19
	1. RELIANCE STL & ALUM CO COM		2013-04-26	2014-04-11
	28. RELIANCE STL & ALUM CO COM		2012-03-21	2014-04-11
	13. RETAIL PROPERTIES OF AME-A		2012-09-04	2014-10-08
	7. RETAIL PROPERTIES OF AME-A		2012-09-04	2014-10-09
	2. ROCHE HLDG LTD SPONSORED ADR		2013-06-25	2014-02-19
	8. ROCHE HLDG LTD SPONSORED ADR		2011-01-19	2014-03-14
	12. ROCHE HLDG LTD SPONSORED ADR		2013-06-25	2014-04-30
	8. ROCHE HLDG LTD SPONSORED ADR		2013-06-25	2014-09-30
	16. ROCHE HLDG LTD SPONSORED ADR		2013-07-05	2014-11-07
	41. ROYAL DUTCH SHELL PLC SPONSORED		2011-01-24	2014-04-03
	80. ROYAL MAIL PLC-UNSP ADR		2014-07-11	2014-09-25
	74. RYLAND GRP INC COM		2013-04-26	2014-06-05
	5. SABMILLER PLC - ADR		2011-01-20	2014-09-15
	10. SABMILLER PLC - ADR		2011-01-20	2014-10-13
	3. SAP AG SPONSORED ADR		2011-01-20	2014-05-09
	22. SAP AG SPONSORED ADR		2011-01-19	2014-05-14
	5. SAP AG SPONSORED ADR		2011-01-20	2014-05-14
	5. SAP AG SPONSORED ADR		2011-01-20	2014-06-04
	3. SAP AG SPONSORED ADR		2012-01-10	2014-06-06
	7. SAP AG SPONSORED ADR		2014-02-05	2014-06-25
	1. SAP AG SPONSORED ADR		2012-01-10	2014-06-25
	6. SCHLUMBERGER LTD COM		2011-01-20	2014-02-19
	10. SCHLUMBERGER LTD COM		2011-01-12	2014-03-17
	2. SCHLUMBERGER LTD COM		2011-01-20	2014-04-03
	4. SCHLUMBERGER LTD COM		2011-01-20	2014-04-17
	6. SCHLUMBERGER LTD COM		2011-01-20	2014-05-27
	18. SCHNEIDER ELECTRIC SE - ADR		2011-01-19	2014-03-14
	44. SENIOR HSG PPTYS TR SH BEN INT		2012-07-26	2014-02-19
	8. SIMON PPTY GRP INC NEW COM		2011-01-19	2014-01-29
	81. SOTHEBY'S HLDGS INC CL A		2013-01-29	2014-10-30
	9. SOUTHERN COPPER CORP		2014-02-11	2014-10-09
	30. SOUTHERN COPPER CORP		2013-03-04	2014-10-09
	24. STRATEGIC HOTELS & RESORTS INC		2012-04-19	2014-01-29
	20. STRATEGIC HOTELS & RESORTS INC		2012-04-19	2014-02-12
	78. SUMITOMO MITSUI TR-SPON ADR		2013-05-10	2014-05-27
	89. SUMITOMO MITSUI TR-SPON ADR		2013-05-13	2014-07-29
	65. SUMITOMO MITSUI TR-SPON ADR		2013-06-13	2014-09-26
	61. SUMITOMO MITSUI TR-SPON ADR		2014-02-12	2014-10-16
	160. SUMITOMO MITSUI TR-SPON ADR		2013-07-29	2014-10-16
	34. SUNTORY BEVERAGE & FOOD-UADR		2014-05-09	2014-11-25
	6. SWATCH GROUP AG/THE-UNSP ADR		2011-10-18	2014-01-15
	10. SWATCH GROUP AG/THE-UNSP ADR		2011-11-04	2014-04-01
	10. SWATCH GROUP AG/THE-UNSP ADR		2011-12-14	2014-04-02
	13. SWATCH GROUP AG/THE-UNSP ADR		2011-12-14	2014-05-02
	14. SWATCH GROUP AG/THE-UNSP ADR		2012-09-04	2014-05-05
	14. SYNAPTICS INC		2013-07-30	2014-08-15
	3. SYNGENTA AG SPONSORED ADR		2012-03-26	2014-01-31
	2. SYNGENTA AG SPONSORED ADR		2012-03-26	2014-02-05
	5. SYNGENTA AG SPONSORED ADR		2013-01-23	2014-02-24
	3. SYNGENTA AG SPONSORED ADR		2013-06-28	2014-03-06
	3. SYNGENTA AG SPONSORED ADR		2013-01-24	2014-03-06
	7. SYNGENTA AG SPONSORED ADR		2013-07-26	2014-03-07
	16. TJX COS INC NEW COM		2011-07-01	2014-03-17
	2. TRW AUTOMOTIVE HLDGS CORP		2012-03-21	2014-01-14
	5. TRW AUTOMOTIVE HLDGS CORP		2012-03-21	2014-08-14
	46. TRW AUTOMOTIVE HLDGS CORP		2013-04-26	2014-09-26
	16. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-10-16	2014-05-14
	14. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-10-17	2014-07-09
	28. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-10-25	2014-07-11
	10. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-10-25	2014-07-14
	15. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-11-06	2014-08-27
	14. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-11-20	2014-12-03
	8. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2013-11-20	2014-12-15
	19. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2014-01-08	2014-12-15
	54. TARGET CORP COM		2011-03-01	2014-06-10
	11. TATA MTRS LTD ADR		2013-04-04	2014-02-28
	4. TATA MTRS LTD ADR		2013-04-05	2014-04-29
	9. TATA MTRS LTD ADR		2013-04-10	2014-04-30
	4. TATA MTRS LTD ADR		2013-04-11	2014-05-01
	7. TATA MTRS LTD ADR		2013-04-16	2014-05-02
	7. TATA MTRS LTD ADR		2013-04-17	2014-05-05
	6. TENCENT HOLDINGS LTD-UNS ADR		2011-01-20	2014-01-27
	2. TENCENT HOLDINGS LTD-UNS ADR		2011-01-20	2014-03-26
	5. TENCENT HOLDINGS LTD-UNS ADR		2011-01-20	2014-04-16
	107. TESCO PLC SPONSORED ADR		2011-11-04	2014-08-06
	25. THERMO ELECTRON CORP COM W/RTS ATTACHED EXP 01/29/2006		2011-04-12	2014-03-17
	13. 3M CO COM		2011-01-12	2014-03-17
	27. 3M CO COM		2011-01-12	2014-08-20
	4. TOYOTA MTR CORP COM (ADR 2)		2011-01-20	2014-08-21
	3. TOYOTA MTR CORP COM (ADR 2)		2011-01-20	2014-11-21
	4. TOYOTA MTR CORP COM (ADR 2)		2011-01-20	2014-12-22
	47. TRACTOR SUPPLY CO COM		2014-06-05	2014-10-29
	47. TREX CO INC COM		2014-05-08	2014-07-24
	27. US BANCORP DEL COM NEW W/RIGHTS ATTACHED EXP 2/27/2011		2011-02-07	2014-03-17
	1. UNION PAC CORP COM		2011-01-12	2014-03-17
	72. UNIT CORP COM		2013-09-18	2014-01-27
	2. UNITED PARCEL SERVICE CL B COM		2011-08-15	2014-03-17
	10. UNITED THERAPEUTICS CORP DEL COM W/RIGHTS ATTACHED EXP 12/29/2010		2014-01-22	2014-11-20
	166. VALLOUREC SA-SPN ADR		2014-09-25	2014-12-09
	12. VALMONT INDS INC		2012-03-21	2014-04-11
	12. VALMONT INDS INC		2012-11-21	2014-11-20
	4. VECTRUS INC		2014-07-24	2014-10-03
	.8889 VECTRUS INC		2014-07-24	2014-10-09
	9. WADDELL & REED FINL INC CL A W/RIGHTS ATTACHED EXP 4/28/2009		2013-06-03	2014-01-09
	29. WADDELL & REED FINL INC CL A W/RIGHTS ATTACHED EXP 4/28/2009		2013-06-03	2014-08-29
	28. WADDELL & REED FINL INC CL A W/RIGHTS ATTACHED EXP 4/28/2009		2013-10-09	2014-12-18
	47. WAL MART STORES INC COM		2012-03-19	2014-05-28
	43. WALGREEN CO COM W/RTS ATTACHED EXP 08/21/2006		2012-03-19	2014-05-28
	12. WEINGARTEN RLTY INVS SH BEN INT		2014-03-24	2014-12-10
	29. WEINGARTEN RLTY INVS SH BEN INT		2014-03-24	2014-12-19
	26. WELLCARE HEALTH PLANS, INC		2012-03-21	2014-02-04
	21. WELLCARE HEALTH PLANS, INC		2013-04-26	2014-08-28
	48. WESCO INTL INC COM		2012-11-21	2014-02-26
	1. WESCO INTL INC COM		2013-04-26	2014-02-26
	9. YUM! BRANDS INC COM		2012-03-20	2014-03-17
	8. YUM! BRANDS INC COM		2012-06-08	2014-05-15
	3. YUM! BRANDS INC COM		2012-06-29	2014-06-25
	4. YUM! BRANDS INC COM		2013-01-23	2014-07-29
	5. YUM! BRANDS INC COM		2013-07-16	2014-07-30
	4. YUM! BRANDS INC COM		2013-10-09	2014-07-30
	11. DEUTSCHE BANK AG-REG COM		2012-10-26	2014-01-31
	25. DEUTSCHE BANK AG-REG COM		2013-04-30	2014-05-14
	4. ACCENTURE PLC		2012-07-12	2014-08-27
	4. ACCENTURE PLC		2012-07-24	2014-10-27
	4. ACCENTURE PLC		2012-12-20	2014-10-28
	3. ACCENTURE PLC		2013-01-28	2014-11-03
	5. ACCENTURE PLC		2014-03-27	2014-11-05
	4. ACCENTURE PLC		2013-04-29	2014-11-05
	7. BUNGE LIMITED COM		2011-01-19	2014-07-11
	30. ENSCO PLC-CL A		2014-07-11	2014-09-09
	5. SINA.COM SHS		2013-05-17	2014-04-22
	5. SINA.COM SHS		2013-05-17	2014-04-23
	421.5135 GRAHAM ALT INV FD II BLEND CL 0 (RF)		2010-10-28	2014-09-30
	4. ASML HOLDING NV-NY REG SHS ADR		2012-12-14	2014-07-07
	6. ASML HOLDING NV-NY REG SHS ADR		2013-03-27	2014-07-09
	4. ASML HOLDING NV-NY REG SHS ADR		2013-06-07	2014-07-11
	2. ASML HOLDING NV-NY REG SHS ADR		2013-06-10	2014-07-14
	9. YANDEX NV-A		2011-06-15	2014-01-31
	4. YANDEX NV-A		2011-06-15	2014-02-11
	20. YANDEX NV-A		2012-01-25	2014-03-25
	19. YANDEX NV-A		2013-03-27	2014-04-25
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	4,086	3,481	605
b	56	43	13
c	3,389	2,559	830
d	279	232	47
e	446	341	105
	486	493	-7
	2,805	2,845	-40
	325	231	94
	283	231	52
	634	617	17
	343	347	-4
	186	193	-7
	373	386	-13
	23	19	4
	2,856	3,017	-161
	627	525	102
	989	430	559
	1,114	1,255	-141
	301	231	70
	1,712	877	835
	113	101	12
	324	304	20
	336	304	32
	342	304	38
	1,101	1,015	86
	159	254	-95
	174	157	17
	2,253	2,312	-59
	301	172	129
	298	172	126
	474	246	228
	202	107	95
	76	40	36
	332	174	158
	305	161	144
	1,030	590	440
	429	347	82
	431	347	84
	1,762	1,575	187
	2,654	1,472	1,182
	156	118	38
	184	118	66
	58	69	-11
	1	2	-1
	201	240	-39
	232	274	-42
	23	24	-1
	2,357	3,194	-837
	1,615	2,513	-898
	118	92	26
	116	92	24
	262	226	36
	47	45	2
	422	401	21
	338	312	26
	289	267	22
	47	45	2
	285	267	18
	1,039	498	541
	3	5	-2
	178	102	76
	176	102	74
	328	170	158
	623	306	317
	4,608	2,728	1,880
	39	44	-5
	234	265	-31
	328	398	-70
	340	398	-58
	302	354	-52
	275	327	-52
	27	32	-5
	330	379	-49
	19	24	-5
	1,891	1,758	133
	3,438	2,970	468
	312	266	46
	306	266	40
	69	50	19
	4,864	3,519	1,345
	666	580	86
	198	237	-39
	2,566	3,847	-1,281
	34	59	-25
	1,505	1,977	-472
	121	158	-37
	254	113	141
	1,766	1,438	328
	675	550	125
	1,119	1,240	-121
	14	11	3
	304	251	53
	128	141	-13
	446	451	-5
	253	243	10
	248	243	5
	143	139	4
	289	278	11
	294	278	16
	335	312	23
	355	277	78
	858	616	242
	119	81	38
	119	81	38
	119	81	38
	236	162	74
	329	243	86
	330	243	87
	2,609	2,368	241
	4,285	3,731	554
	595	379	216
	1,627	790	837
	3,918	1,855	2,063
	1,165	513	652
	2,830	3,561	-731
	5,217	3,647	1,570
	18,971	19,048	-77
	19,048	19,048
	18,942	19,048	-106
	19,087	19,078	9
	745	639	106
	1,368	1,555	-187
	278	218	60
	3,477	1,962	1,515


	24	21	3
	375	308	67
	625	494	131
	973	771	202
	175	163	12
	244	217	27
	346	271	75
	35	32	3
	2,179	3,583	-1,404
	461	194	267
	14,403	11,384	3,019
	329	284	45
	580	490	90
	299	258	41
	597	542	55
	592	542	50
	49	51	-2
	20	21	-1
	37	39	-2
	20	21	-1
	21	22	-1
	24	25	-1
	20	21	-1
	37	38	-1
	20	21	-1
	41	43	-2
	23	24	-1
	18	19	-1
	82	61	21
	170	111	59
	662	669	-7
	2,798	4,358	-1,560
	780	755	25
	416	338	78
	256	197	59
	1,156	1,871	-715
	1,652	1,323	329
	216	164	52
	190	146	44
	884	2,753	-1,869
	905	309	596
	2,592	617	1,975
	34,077	45,000	-10,923
	3,052	2,694	358
	606	556	50
	606	595	11
	2,304	2,262	42
	298	249	49
	366	319	47
	131	106	25
	674	531	143
	1,120	1,144	-24
	470	422	48
	1,519	1,511	8
	325	281	44
	267	234	33
	752	656	96
	850	834	16
	372	365	7
	3,650	3,421	229
	306	253	53
	362	313	49
	2,823	2,304	519
	368	589	-221
	161	259	-98
	207	330	-123
	177	283	-106
	304	495	-191
	2,976	3,112	-136
	201	172	29
	201	155	46
	341	415	-74
	142	185	-43
	625	784	-159
	124	99	25
	157	131	26
	641	515	126
	272	226	46
	643	466	177
	691	643	48
	2,506	1,977	529
	182	322	-140
	304	537	-233
	190	279	-89
	482	709	-227
	8	9	-1
	1,001	1,153	-152
	570	656	-86
	350	298	52
	460	358	102
	186	164	22
	1,163	1,016	147
	352	204	148
	294	423	-129
	292	395	-103
	199	282	-83
	239	338	-99
	199	282	-83
	297	305	-8
	584	609	-25
	250	261	-11
	794	744	50
	105	91	14
	347	304	43
	315	273	42
	293	178	115
	185	141	44
	654	517	137
	178	141	37
	832	658	174
	857	751	106
	1,841	1,937	-96
	1,839	1,937	-98
	820	625	195
	280	453	-173
	420	377	43
	443	377	66
	2,400	2,112	288
	728	475	253
	639	807	-168
	97	69	28
	85	69	16
	850	688	162
	311	214	97
	595	473	122
	975	824	151
	153	114	39
	1,714	1,789	-75
	380	364	16
	319	341	-22
	295	296	-1
	312	313	-1
	764	807	-43
	1,372	1,065	307
	1,165	880	285
	3,359	2,639	720
	1,011	794	217
	146	110	36
	737	554	183
	510	411	99
	365	294	71
	579	486	93
	222	182	40
	1,194	1,027	167
	2,006	1,726	280
	241	232	9
	1,240	1,143	97
	603	634	-31
	1,424	1,521	-97
	328	224	104
	281	193	88
	186	129	57
	373	257	116
	265	144	121
	280	144	136
	266	144	122
	359	192	167
	351	192	159
	85	48	37
	212	120	92
	271	144	127
	16	15	1
	440	387	53
	3,307	2,693	614
	252	227	25
	493	421	72
	153	124	29
	2,168	1,813	355
	107	141	-34
	33	44	-11
	201	265	-64
	124	159	-35
	165	182	-17
	366	404	-38
	235	243	-8
	252	263	-11
	58	61	-3
	626	667	-41
	133	141	-8
	5,564	5,564
	111,275	75,000	36,275
	226	226
	653	660	-7
	313	321	-8
	290	302	-12
	426	378	48
	381	361	20
	919	1,680	-761
	4,461	3,694	767
	1,291	1,195	96
	3,758	3,743	15
	226	159	67
	264	188	76
	346	275	71
	290	246	44
	765	680	85
	2,099	1,218	881
	3,148	1,827	1,321
	217	156	61
	216	145	71
	273	182	91
	310	193	117
	179	130	49
	589	427	162
	68	57	11
	1,918	1,593	325
	193	109	84
	105	59	46
	149	123	26
	291	155	136
	437	368	69
	294	245	49
	584	491	93
	2,998	2,845	153
	1,038	1,433	-395
	2,753	2,501	252
	301	190	111
	522	380	142
	226	186	40
	1,690	1,288	402
	385	310	75
	377	310	67
	225	186	39
	540	433	107
	77	62	15
	546	497	49
	899	844	55
	196	166	30
	401	331	70
	612	497	115
	305	272	33
	928	954	-26
	1,201	834	367
	3,116	3,031	85
	257	292	-35
	857	974	-117
	220	160	60
	186	133	53
	320	399	-79
	382	456	-74
	270	333	-63
	224	312	-88
	588	819	-231
	606	625	-19
	182	116	66
	309	193	116
	311	193	118
	402	251	151
	430	270	160
	1,133	551	582
	211	223	-12
	135	149	-14
	365	372	-7
	227	223	4
	227	223	4
	531	521	10
	992	426	566
	149	93	56
	484	233	251
	4,682	2,143	2,539
	331	290	41
	313	254	59
	638	507	131
	224	181	43
	311	272	39
	318	254	64
	175	145	30
	417	344	73
	3,067	2,986	81
	384	270	114
	149	98	51
	335	221	114
	149	98	51
	262	172	90
	261	172	89
	379	145	234
	143	48	95
	337	121	216
	1,321	2,120	-799
	3,078	1,402	1,676
	1,720	1,150	570
	3,902	2,389	1,513
	464	350	114
	364	273	91
	505	364	141
	3,407	3,060	347
	1,341	1,566	-225
	1,132	755	377
	187	98	89
	3,622	3,387	235
	194	131	63
	1,288	1,019	269
	957	1,578	-621
	1,773	1,429	344
	1,633	1,429	204
	93	84	9
	18	19	-1
	593	429	164
	1,583	1,384	199
	1,313	1,336	-23
	3,560	2,646	914
	3,010	1,741	1,269
	420	353	67
	1,000	854	146
	1,625	1,654	-29
	1,365	1,336	29
	4,074	3,154	920
	85	66	19
	679	603	76
	598	536	62
	245	201	44
	297	268	29
	365	335	30
	292	268	24
	529	500	29
	1,069	1,136	-67
	324	263	61
	316	263	53
	316	263	53
	243	197	46
	408	328	80
	326	263	63
	517	508	9
	1,416	1,573	-157
	281	298	-17
	269	298	-29
	55,474	58,833	-3,359
	384	277	107
	561	415	146
	365	277	88
	181	138	43
	332	246	86
	160	109	51
	594	547	47
	439	520	-81
			15,216

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			605
b			13
c			830
d			47
e			105
			-7
			-40
			94
			52
			17
			-4
			-7
			-13
			4
			-161
			102
			559
			-141
			70
			835
			12
			20
			32
			38
			86
			-95
			17
			-59
			129
			126
			228
			95
			36
			158
			144
			440
			82
			84
			187
			1,182
			38
			66
			-11
			-1
			-39
			-42
			-1
			-837
			-898
			26
			24
			36
			2
			21
			26
			22
			2
			18
			541
			-2
			76
			74
			158
			317
			1,880
			-5
			-31
			-70
			-58
			-52
			-52
			-5
			-49
			-5
			133
			468
			46
			40
			19
			1,345
			86
			-39
			-1,281
			-25
			-472
			-37
			141
			328
			125
			-121
			3
			53
			-13
			-5
			10
			5
			4
			11
			16
			23
			78
			242
			38
			38
			38
			74
			86
			87
			241
			554
			216
			837
			2,063
			652
			-731
			1,570
			-77

			-106
			9
			106
			-187
			60
			1,515


			3
			67
			131
			202
			12
			27
			75
			3
			-1,404
			267
			3,019
			45
			90
			41
			55
			50
			-2
			-1
			-2
			-1
			-1
			-1
			-1
			-1
			-1
			-2
			-1
			-1
			21
			59
			-7
			-1,560
			25
			78
			59
			-715
			329
			52
			44
			-1,869
			596
			1,975
			-10,923
			358
			50
			11
			42
			49
			47
			25
			143
			-24
			48
			8
			44
			33
			96
			16
			7
			229
			53
			49
			519
			-221
			-98
			-123
			-106
			-191
			-136
			29
			46
			-74
			-43
			-159
			25
			26
			126
			46
			177
			48
			529
			-140
			-233
			-89
			-227
			-1
			-152
			-86
			52
			102
			22
			147
			148
			-129
			-103
			-83
			-99
			-83
			-8
			-25
			-11
			50
			14
			43
			42
			115
			44
			137
			37
			174
			106
			-96
			-98
			195
			-173
			43
			66
			288
			253
			-168
			28
			16
			162
			97
			122
			151
			39
			-75
			16
			-22
			-1
			-1
			-43
			307
			285
			720
			217
			36
			183
			99
			71
			93
			40
			167
			280
			9
			97
			-31
			-97
			104
			88
			57
			116
			121
			136
			122
			167
			159
			37
			92
			127
			1
			53
			614
			25
			72
			29
			355
			-34
			-11
			-64
			-35
			-17
			-38
			-8
			-11
			-3
			-41
			-8

			36,275

			-7
			-8
			-12
			48
			20
			-761
			767
			96
			15
			67
			76
			71
			44
			85
			881
			1,321
			61
			71
			91
			117
			49
			162
			11
			325
			84
			46
			26
			136
			69
			49
			93
			153
			-395
			252
			111
			142
			40
			402
			75
			67
			39
			107
			15
			49
			55
			30
			70
			115
			33
			-26
			367
			85
			-35
			-117
			60
			53
			-79
			-74
			-63
			-88
			-231
			-19
			66
			116
			118
			151
			160
			582
			-12
			-14
			-7
			4
			4
			10
			566
			56
			251
			2,539
			41
			59
			131
			43
			39
			64
			30
			73
			81
			114
			51
			114
			51
			90
			89
			234
			95
			216
			-799
			1,676
			570
			1,513
			114
			91
			141
			347
			-225
			377
			89
			235
			63
			269
			-621
			344
			204
			9
			-1
			164
			199
			-23
			914
			1,269
			67
			146
			-29
			29
			920
			19
			76
			62
			44
			29
			30
			24
			29
			-67
			61
			53
			53
			46
			80
			63
			9
			-157
			-17
			-29
			-3,359
			107
			146
			88
			43
			86
			51
			47
			-81

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	81,879
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2013	108,438	2,231,318	0.048598
2012	109,188	2,147,656	0.050841
2011	102,518	2,153,056	0.047615
2010	93,488	2,076,825	0.045015
2009	124,000	1,917,940	0.064653

2	Total of line 1, column (d) ......................	2	0.256722
3	Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years. . .	3	0.051344
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	2,275,788
5	Multiply line 4 by line 3.......................	5	116,848
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	1,203
7	Add lines 5 and 6.........................	7	118,051
8	Enter qualifying distributions from Part XII, line 4..............	8	111,397
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2014)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	2,407
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	2,407
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	2,407
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	1,010
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	1,434
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	2,444
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	37
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax37	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

WELLS FARGO BANK NA Telephone no. bullet

(800) 352-3705

Located at bullet

1 WEST 4TH STREETWINSTON SALEMNC ZIP+4 bullet

271013818

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Form 990-PF (2014)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2014?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?........................YesNo

If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2014.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)..................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.......................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2014)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
WELLS FARGO BANK NA	TRUSTEE 40	30,337
1525 W WT HARRIS BLVD D1114 044 CHARLOTTE,NC28288	TRUSTEE 40	30,337

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2014)

Page 8

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

2,160,078

Average of monthly cash balances.......................

150,367

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

2,310,445

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

2,310,445

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

34,657

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

2,275,788

Minimum investment return. Enter 5% of line 5..................

113,789

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

113,789

Tax on investment income for 2014 from Part VI, line 5......

2,407

Income tax for 2014. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

2,407

Distributable amount before adjustments. Subtract line 2c from line 1............

111,382

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

111,382

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

111,382

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

111,397

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

111,397

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see instructions).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

111,397

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2013	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7					111,382
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......				101,426
b Total for prior years:2012, 20, 20			0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......	0
b From 2010.......	0
c From 2011.......	0
d From 2012.......	0
e From 2013.......	0
fTotal of lines 3a through e.........		0
4Qualifying distributions for 2014 from Part
XII, line 4: $ 111,397
a Applied to 2013, but not more than line 2a					101,426
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions).........		0
d Applied to 2014 distributable amount.....					9,971
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2014.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					101,411
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2010....	0
b Excess from 2011....	0
c Excess from 2012....	0
d Excess from 2013....	0
e Excess from 2014....	0

Form 990-PF (2014)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2014, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2014	(b) 2013	(c) 2012	(d) 2011	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2014)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
WILLIAM BREMEN JEWISH HERITAGE MUSEUM 1440 SPRING STREET ATLANTA,GA30309	NONE	PC	CONTRIBUTION	3,000
UNION FOR REFORM JUDAISM 633 3RD AVENUE FLOOR 17 NEW YORK,NY10017	NONE	PC	SCHOLARSHIPS	12,000
MAZON INC 10495 SANTA MONICA BLVD LOS ANGELES,CA90025	NONE	PC	CONTRIBUTION	2,000
FRIENDS OF THE PUBLIC LIBRARY PO BOX 308 ANNISTON,AL36202	NONE	PC	CONTRIBUTION	4,875
RAMAH DAROM INC 6400 POWERS FERRY ROAD ATLANTA,GA30329	NONE	PC	CONTRIBUTION	1,625
JACKSONVILLE STATE UNIV FDN 700 PELHAM ROAD JACKSONVILLE,AL36265	NONE	PC	CONTRIBUTION	1,500
BOYS AND GIRLS CLUB OF EAST CENTRAL ALABAMA PO BOX 2347 ANNISTON,AL36202	NONE	PC	CONTRIBUTION	1,000
ALL SAINTS INTERFAITH CENTER FOR CONCERN 1029 WEST 15TH STREET ANNISTON,AL36201	NONE	PC	CONTRIBUTION	5,000
SOUTHERN POVERTY LAW CENTER INC 400 WASHINGTON AVE MONTGOMERY,AL36104	NONE	PC	CONTRIBUTION	2,500
COMMUNITY ENABLER DEVELOPERS INC 1411 GURNEE AVE ANNISTON,AL36201	NONE	PC	CONTRIBUTION	5,000
INTERFAITH MINISTRIES INC PO BOX 1444 ANNISTON,AL36202	NONE	PC	CONTRIBUTION	5,000
ANNISTON SOUP BOWL INC 1516 MOORE AVENUE ANNISTON,AL36201	NONE	PC	CONTRIBUTION	1,000
BIRMINGHAM JEWISH FEDERATION 3966 MONTCLAIR ROAD BIRMINGHAM,AL35213	NONE	PC	CONTRIBUTION	3,000
HABITAT FOR HUMANITY INTL PO BOX 1135 ANNISTON,AL36202	NONE	PC	CONTRIBUTION	1,000
TEMPLE BETH EL FDN 2179 HIGHLAND AVENUE BIRMINGHAM,AL35205	NONE	PC	CONTRIBUTION	50,000
GOLDRING WOLDENBRG INSTITUTE OF SO JEWISH LIFE 4915 I 55 N STE 100A JACKSON,MS39206	NONE	PC	CONTRIBUTION	500
ALABAMA HOLOCAUST FDN PO BOX 130577 BIRMINGHAM,AL35213	NONE	PC	CONTRIBUTION	2,500
Total ................................. 3a				101,500

bApproved for future payment

Total ................................. 3b

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............
4 Dividends and interest from securities....			14	53,269
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............			18	81,879
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aFEE REBATES			01	1,081
bMUT FD OTH INC			01	429
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				136,658

13Total. Add line 12, columns (b), (d), and (e)..................

13136,658

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2014)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,000			1,000

Name of Bond	End of Year Book Value	End of Year Fair Market Value
097014AH7 BOEING CAP CORP
209111DZ3 CONSOLIDATED EDISON
38141GCN4 GOLDMAN SACHS 5.500
04315J860 ABERDEEN GLOBAL HIGH	34,950	30,621
261980494 DREYFUS EMG MKT DEBT	112,000	95,511
38141GCM4 GOLDMAN SACHS GROUP
693390304 PIMCO LOW DURATION F	14,098	13,649
693390882 PIMCO FOREIGN BD FD	38,686	42,281
72369B406 PIONEER HIGH YIELD F
949917538 WELLS FARGO ADV HI I	40,328	38,984
957663107 WESTERN ASSET LTD DU
4812C0803 JPMORGAN HIGH YIELD	35,000	33,755
52469E807 WESTERN ASSET SHRT-T	48,500	48,874

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

ROSEN JAMES CT

EIN: 31-1529233

Name of Stock	End of Year Book Value	End of Year Fair Market Value
04315J860 ARTIO GLOBAL FD#1525
693391104 PIMCO REAL RTN #122
72369B406 PIONEER HI YLD #724
949917538 WELLS FARGO FD #3110
693390882 PIMCO FORGN FD #103
025083320 AMER CENT SMALL CAP	36,028	61,997
92934R769 CRM MIDCAP VALUE #32
239080401 DAVIS NY VENTUR #909
26203E851 DREYFUS BOSTON #6944
784924425 SSGA EMERG MKT #1510
77954Q106 TROWE BLUE CHIP #93
900297763 TURNER MIDCAP #1309
246248306 DELAWARE POOLED #31
901165100 TWEEDY BROWN FD #1
ASGI AGILITY INCOME FUND
WELLS FARGO 100 HEDGE FUND
AURORA DIVERSIFIED II ASP
GRAHAM ALTERNATIVE FUND II
PARTNERS GROUP PRIVATE
RICI LINKED PAM TOTAL INDEX
CB RICHARD ELLIS REALTY TRUST
44980Q518 ING INTL RE FD #2664
44981V706 ING RE FD #2190
722005667 PIMCO COMMODITY REAL
89155H256 TOUCHSTONE SMALL CAP	34,247	47,653
580135101 MCDONALDS CORP	4,306	4,966
580645109 MCGRAW-HILL COMPANIE
65248E104 NEWS CORP
87612E106 TARGET CORP	8,157	11,083
88732J207 TIME WARNER CABLE IN	953	2,281
254687106 WALT DISNEY CO	3,059	7,441
191216100 COCA COLA CO	10,522	13,299
518439104 ESTEE LAUDER COMPANI	2,735	4,115
393122106 GREEN MTN COFFEE
50075N104 KRAFT FOODS INC
713448108 PEPSICO INC	3,849	5,201
742718109 PROCTER & GAMBLE CO	6,451	8,471
931142103 WAL MART STORES INC
931422109 WALGREEN CO
037411105 APACHE CORP	5,228	3,259
166764100 CHEVRON CORP	8,678	9,535
20825C104 CONOCOPHILLIPS	4,808	6,008
30231G102 EXXON MOBIL CORPORAT
674599105 OCCIDENTAL PETE CORP	6,434	5,562
025816109 AMERICAN EXPRESS CO	2,398	3,815
09247X101 BLACKROCK INC	5,725	8,581
354613101 FRANKLIN RESOURCES I	3,234	4,208
46625H100 JPMORGAN CHASE & CO	10,402	14,831
002824100 ABBOTT LABS	2,875	4,682
075887109 BECTON DICKINSON
46120E602 INTUITIVE SURGICAL I
478160104 JOHNSON & JOHNSON	5,167	8,052
585055106 MEDTRONCI INC
58933Y105 MERCK & CO INC NEW	1,839	2,896
149123101 CATERPILLAR INC	2,587	2,471
369550108 GENERAL DYNAMICS COR
369604103 GENERAL ELECTRIC CO	2,279	2,704
913017109 UNITED TECHNOLOGIES	4,350	5,865
037833100 APPLE INC	12,248	27,816
053015103 AUTOMATIC DATA PROCE	1,447	2,751
458140100 INTEL CORP	2,241	3,702
459200101 INTERNATIONAL BUSINE	10,821	9,626
747525103 QUALCOMM INC	2,750	3,494
882508104 TEXAS INSTRUMENTS IN	3,168	4,972
009158106 AIR PRODS & CHEMS IN	2,226	3,462
35671D857 FREEPORT-MCMORAN COP
74005P104 PRAXAIR INC COM	3,391	4,146
086516101 BEST BUY INC
17306X102 CITI TRENDS INC
36467W109 GAMESTOP CORP
401617105 GUESS INC
418056107 HASBRO INC
054303102 AVON PRODS INC
60871R209 MOLSON COORS BREWING
786514208 SAFEWAY INC NEW
12802T101 CAL DIVE INTERNATION
13342B105 CAMERON INTL CORP
261608103 DRESSER-RAND GROUP I
651290108 NEWFIELD EXPL CO
723787107 PIONEER NAT RES CO
845467109 SOUTHWESTERN ENERGY
91913Y100 VAKLERO ENERGY CO
524901105 LEGG MASON INC
665859104 NORTHERN TRUST CORP
712704105 PEOPLES UNITED FINAN
693366205 PICO HOLDINGS INC
743315103 PROGRESSIVE CORP
808513105 SCWAB CHARLES CORP
00817Y108 AETNA INC-NEW
101137107 BOSTON SCIENTIFIC CO
436440101 HOLOGIC INC COM
74834L100 QUEST DIAGNOSTICS
918194101 VCA ANTECH INC
018804104 ALLIANT TECHSYSTEMS
205944101 CON-WAY INC
30162A108 EXELIS INC	1,440	1,543
302130109 EXPEDITORS INTL WASH
450911201 ITT CORP
760759100 REPUBLIC SERVICES IN
774341101 ROCKWELL COLLINS
784635104 SPX CORP
880779103 TEREX CORP NEW
98419M100 XYLEM INC/NY
032095101 AMPHENOL CORP
12673P105 CA INC
25659T107 DOLBY LABORATORIES
346375108 FORMFACTOR INC
535678106 LINER TECHNOLOG COPR
871503108 SYMANTEC CORP
879664100 TELLABS OPERATIONS I
959802109 WESTERN UNION CO/THE
826552101 SIGMA ALDRICH
810186106 THE SCOTTS MIRACLE
591708102 METROPCS COMMUNICATI
902681105 UGI CORP NEW
517834107 LAS VEGAS SANDS CORP	4,594	4,246
58733R102 MERCADOLIBRE INC
84265V105 SOUTHERN COPPER CORP
85590A401 STARWOOD HOTELS & RE
12504L109 CBRE GROUP INC
480208Q107 JONES LANG LASALLE
22025Y407 CORRECTIONS CORP OF
20030N101 COMCAST CORP CLASS A	2,715	6,961
478366107 JOHNSON CONTROLS INC	4,019	4,834
87612E106 TARGET CORP
872540109 TJX COS INC NEW	1,996	5,144
254687106 WALT DISNEY CO
126650100 CVS HEALTH CORPORATI	2,594	7,031
50075N101 KRAFT FOODS INC
037411105 APACHE CORP
057224107 BAKER HUGHES INC
166764100 CHEVRON CORP
20825C104 CONOPHILLIPS
008252108 AFFILIATED MANAGERS	2,200	5,094
001055102 AFLAC INC
084670702 BERKSHIRE HATHAWAY I	5,357	8,709
14040H105 CAPITAL ONE FINANCIA
38141G104 GOLDMAN SACHS GROUP	3,455	4,070
46625H100 JP MORGAN CHASE & CO
902973304 US BANCORP DEL NEW	2,700	5,169
002824100 ABBOTT LABS
883556102 THERMO FISHER SCIENT	1,938	4,385
91324P102 UNITEDHEALTH GROUP I	3,597	8,492
097023105 BOEING CO	4,374	6,629
907818108 UNION PACIFIC CORP	5,928	11,675
911312106 UNITED PARCEL SERVIC	2,494	4,224
88579Y101 3M CO
037833100 APPLE INC
17275R102 CISCO SYSTEMS INC	4,176	6,731
268648102 E M C CORP MASS	3,489	4,164
428236103 HEWLETT PACKARD CO
488140100 INTEL CORP
594918104 MICROSOFT CORP	3,419	5,156
68389X105 ORACLE CORPORATION	5,435	8,050
150870103 CELANESE CORP	4,625	5,336
722005667 PIMCO COMMODITY
001084102 AGCO CORP COM
001317205 AIA GROUP LTD-SP ADR	5,948	8,661
003021714 ABERDEEN EMERG MARKE	78,121	71,593
00508X203 ACTUANT CORP-CL A
00687A107 ADIDAS-AG ADR
009126202 AIR LIQUIDE - ADR	3,965	4,560
018805101 ALLIANZ SE ADR	3,818	4,855
02364W105 AMERICA MOVIL S.A.B.
03073E105 AMERISOURCEBERGEN CO	1,720	3,967
03524A108 ANHEUSER-BUSCH INBEV	7,787	11,681
03748R101 APARTMENT INVT & MGM	2,571	3,641
042068106 ARM HOLDINGS PLC - A	1,924	3,380
045387107 ASSA ABLOY AB-UNSP A
049255706 ATLAS COPCO AB ADR	2,256	2,629
053484101 AVALONBAY CMNTYS INC	3,383	4,412
055434203 BG GROUP PLC - ADR	4,461	3,126
055921100 BMC SOFTWARE INC
056752108 BAIDU INC ADR	1,725	3,648
058498106 BALL CORP
088606108 BHP BILLITON LIMITED
101121101 BOSTON PROPERTIES IN	3,606	5,019
12082W204 BURBERRY GROUP PLC-S	1,138	1,261
12572Q105 CME GROUP INC	3,922	5,851
126132109 CNOOC - CHINA NATION
12637N105 CSL LIMITED - ADR
12673A108 CYS INVESTMENTS INC
133131102 CAMDEN PPTY TR SH BE	2,466	2,954
13466Y105 CAMPUS CREST COMMUNI
136375102 CANADIAN NATL RR CO	2,991	5,720
14170T101 CAREFUSION CORP
143658300 CARNIVAL CORP
16359R103 CHEMED CORP NEW	1,846	2,219
171340102 CHURCH & DWIGHT INC
191459205 COCHLEAR LTD-UNSPON
19259P300 COINSTAR INC COM
195872106 COLONIAL PPTYS TR CO
20449X203 COMPASS GROUP PLC -
229663109 CUBESMART	1,266	2,185
229669106 CUBIC CORP
23304Y100 DBS GROUP HOLDINGS L	2,146	2,800
23317H102 DDR CORP	1,718	2,277
237545108 DASSAULT SYSTEMES S.	3,479	5,368
247916208 DENBURY RESOURCES
25243Q205 DIAGEO PLC - ADR	4,965	6,047
253868103 DIGITAL RLTY TR INC
25960P109 DOUGLAS EMMETT INC
26613Q106 DUPONT FABROS TECHNO	823	1,263
26884U109 EPR PROPERTIES	1,657	2,190
278865100 ECOLAB INC
28617Y101 ELEKTA AB-B SHS-UNSP
29082A107 EMBRAER SA ADR
29264F205 ENDO HEALTH SOLUTION
294752100 EQUITY ONE INC	1,108	1,471
29476L107 EQUITY RESIDENTIAL P	2,710	3,592
297178105 ESSEX PPTY TR COM	4,354	5,991
30212P303 EXPEDIA INC
30225T102 EXTRA SPACE STORAGE	1,069	2,580
30249U101 FMC TECHNOLOGIES INC
307305102 FANUC CORPORATION AD	4,389	4,487
313747206 FEDERAL RLTY INVT TR	1,565	2,402
315616102 F5 NETWORKS INC	3,921	4,305
32054K103 FIRST INDL RLTY TR I	1,918	3,207
33616C100 FIRST REPUBLIC BANK/
343793105 FLSMIDTH & CO A/S AD
358029106 FRESENIUS MEDICAL CA	3,329	4,123
364730101 GANNETT INC	2,156	4,406
368287207 0A0 GAZPROM LEVEL 1
370023103 GENERAL GROWTH PROPE	3,326	5,120
375558103 GILEAD SCIENCES INC	3,657	7,164
38143H381 GOLDMAN SACHS COMM S
40414L109 HCP INC	1,027	1,277
404280406 HSBC - ADR	5,680	4,912
41043M104 HANG LUNG PPTYS LTD
42217K106 HEALTH CARE REIT INC	3,505	5,070
425883105 HENNES & MAURITZ AB	1,014	1,256
43858F109 HONG KONG EXCH & CLE	1,516	2,134
44107P104 HOST HOTELS & RESORT	3,789	5,229
44980X109 IPG PHOTONICS CORP
45104G104 ICICI BANK LTD. - AD	6,275	7,565
453038408 IMPERIAL OIL LTD COM	3,158	3,098
455807107 INDUST AND COMM BK O
457187102 INGREDION INC	2,958	4,157
465562106 ITAU UNIBANCO H-SPON	5,088	3,890
466140100 JGC CORP-UNSPONSORED	3,162	2,187
48020Q107 JONES LANG LASALLE I	4,255	5,997
48667L106 KDDI CORP-UNSPONSORE
495724403 KINGFISHER PLC - ADR	2,563	3,104
500458401 KOMATSU LIMITED - AD
50076Q106 KRAFT FOODS GROUP IN	695	1,316
501897102 LI & FUNG LTD ADR
502117203 L'OREAL - ADR	2,802	4,033
502441306 LVMH MOET HENNESSY U	3,550	3,994
515098101 LANDSTAR SYS INC COM	3,765	4,207
52602E102 LENDER PROCESSING SE
54338V101 LONZA GROUP AG ADR
549764108 LUFKIN INDS INC COM
592688105 METTLER-TOLEDO INTL
59410T106 MICHELIN (CGDE) ADR
606822104 MITSUBISHI UFJ FINL
609207105 MONDELEZ INTERNATION	1,122	1,998
62474M108 MTN GROUP LTD ADR	2,658	2,604
62855J104 MYRIAD GENETICS INC
641069406 NESTLE S.A. REGISTER	15,020	19,113
64126X201 NEUSTAR INC	3,343	3,753
65528V107 NOKIAN TYRES OYJ-UNS
66987V109 NOVARTIS AG - ADR	3,966	5,374
670100205 NOVO NORDISK A/S - A	7,269	10,707
683974505 OPPENHEIMER DEVELOPI
705015105 PEARSON PLC - ADR
70509V100 PEBBLEBROOK HOTEL TR	2,024	3,650
709102107 PENNSYLVANIA REAL ES
71654V408 PETROLEO BRASILEIRO
718546104 PHILLIPS 66	505	1,147
731068102 POLARIS INDS INC COM	2,140	4,688
73755L107 POTASH CORP SASK
74340W103 PROLOGIS INC	4,336	5,465
74460D109 PUBLIC STORAGE INC C	2,827	4,436
74463M106 PUBLICIS GROUPE S.A.	1,028	1,267
74835Y101 QUESTCOR PHARMACEUTI
751452202 RAMCO-GERSHENSON PPT
756255204 RECKITT BENCKIS/S AD	1,304	1,823
759509102 RELIANCE STL & ALUM
76131V202 RETAIL PROPERTIES OF
767204100 RIO TINTO PLC - ADR	1,178	1,105
771195104 ROCHE HOLDINGS LTD -	6,316	10,605
778296103 ROSS STORES INC	3,153	5,184
780097689 ROYAL BANK OF SCOTLA
780259206 ROYAL DUTCH SHELL PL	3,098	2,946
783764103 RYLAND GROUP INC
78440X101 SL GREEN REALTY CORP	3,433	5,475
78572M105 SABMILLER PLC - ADR	3,277	3,764
803054204 SAP SE	3,706	4,249
803866300 SASOL LIMITED - ADR	1,239	911
804395101 SAUL CTRS INC COM	1,014	1,430
80585Y308 SBERBANK-SPONSORED A
806857108 SCHLUMBERGER LTD	11,365	11,616
80687P106 SCHNEIDER ELECTRIC S	3,187	3,041
81721M109 SENIOR HOUSING PROP
826197501 SIEMENS AG - ADR
828806109 SIMON PROPERTY GROUP	7,798	14,205
83569C102 SONOVA HOLDIN-UNSPON	1,295	1,967
835898107 SOTHEBYS
86272T106 STRATEGIC HOTELS & R	1,060	1,879
867892101 SUNSTONE HOTEL INVS	1,481	2,047
86959C103 SVENSKA HANDELSB-A-U	1,037	1,451
870123106 SWATCH GROUP AG/THE-	1,398	1,549
87160A100 SYNGENTA AG - ADR
87162H103 SYNTEL INC	2,386	4,138
87184P109 SYSMEX CORP-UNSPON A	2,058	4,470
87264S106 TRW AUTOMOTIVE HLDGS
874039100 TAIWAN SEMICONDUCTOR	4,719	6,781
876664103 TAUBMAN CTRS INC COM	2,040	1,987
88019R690 TEMPLETON EMER MKT S	21,000	25,759
88032Q109 TENCENT HOLDINGS LTD	711	1,625
88076W103 TERADATA CORP
881575302 TESCO PLC - ADR
881624209 TEVA PHARMACEUTICAL
891027104 TORCHMARK CORP
89151E109 TOTAL S.A. - ADR	11,075	9,933
892331307 TOYOTA MOTOR CORPORA	1,819	2,510
899415202 TULLOW OIL PLC ADR
900148701 TURKIYE GARANTI BANK	3,032	2,541
90384S303 ULTA SALON COSMETICS	2,633	3,835
90460M204 UNI CHARM CORPORATIO	2,542	4,505
904767704 UNILEVER PLC - ADR	1,094	1,457
920253101 VALMONT INDS INC
92276F100 VENTAS INC COM	4,411	5,593
92857W209 VODAFONE GROUP PLC N
929042109 VORNADO REALTY TRUST	3,662	5,297
92933H101 WPP GRP PLC AMER DEP
93114W107 WAL-MART DE MEXICO-S
94946T106 WELLCARE HEALTH PLAN
95082P105 WESCO INTL INC	2,538	2,286
96208T104 WEX INC
981419104 WORLD ACCEP CORP DEL
983919101 XILINX INC	896	1,126
98418R100 XINYI GLASS HOLDI-UN	531	478
988498101 YUM BRANDS INC
D18190898 DEUTSCHE BANK AG REG
G0457F107 ARCOS DORADOS HOLDIN
G1151C101 ACCENTURE PLC
G16962105 BUNGE LIMITED	2,396	3,000
G29183103 EATON CORP PLC	3,714	4,078
M22465104 CHECK POINT SOFTWARE
N07059210 ASML HOLDING NV-NY R	2,506	3,235
N72482107 QIAGEN N.V.
N97284108 YANDEX NV-A
001204106 AGL RES INC COM	3,397	3,870
00184X105 AOL INC
00287Y109 ABBVIE INC	2,220	5,235
02263T104 AMADEUS IT HOLDING-U	1,739	1,978
025676206 AMERICAN EQUITY INVT
025932104 AMERICAN FINL GROUP	2,623	3,340
042735100 ARROW ELECTRS INC	3,516	4,226
05564E106 BRE PPTYS INC CL A 1
05946K101 BANCO BILBAO VIZCAYA	5,446	4,733
071813109 BAXTER INTL INC	4,403	4,617
072743206 BAYERISCHE MOTOREN W	3,058	3,313
112463104 BROOKDALE SR LIVING	876	1,137
13645T100 CANADIAN PAC RY LTD	2,420	3,854
16941M109 DPS CHINA MOBILE LIM	3,389	3,588
189754104 COACH INC
233326107 DST SYS INC COM	3,081	4,237
264411505 DUKE REALTY CORPORAT	1,675	1,939
26852M105 EII INTERNATIONAL PR
26875P101 EOG RESOURCES, INC	1,006	1,289
30215C101 EXPERIAN PLC - ADR	2,569	2,419
30219E103 EXPRESS INC
38259P508 GOOGLE INC
38526M106 GRAND CANYON EDUCATI
428291108 HEXCEL CORP NEW COM
440543106 HORNBECK OFFSHORE SV
456837103 ING GROEP N.V. - ADR	3,120	3,294
46115H107 INTESA SANPAOLO-SPON	1,097	1,212
48137C108 JULIUS BAER GROUP LT	1,537	1,504
49427F108 KILROY REALTY CORP C	2,076	2,763
50048H101 KONE OYJ-B-UNSPONSOR
501173207 KUBOTA LIMITED - ADR	1,190	1,159
517942108 LASALLE HOTEL PROPER
536797103 LITHIA MOTORS INC CL	3,405	4,248
550021109 LULULEMON ATHLETICA	1,748	1,506
58155Q103 MCKESSON CORP	3,565	6,227
58463J304 MEDICAL PPTYS TR INC
596278101 MIDDLEBY CORP	3,806	4,856
600544100 MILLER HERMAN INC
606783207 MITSUBISHI ESTATE CO	2,430	1,708
61022V107 MONOTARO CO LTD-UNSP	736	662
637071101 NATIONAL OILWELL INC	5,385	5,373
65249B109 NEWS CORP/NEW	482	596
654902204 NOKIA CORPORATION -
679580100 OLD DOMINION FREIGHT
690768403 OWENS ILL INC COM NE
69367U105 BANK MANDIRI TBK UNS
69480U206 PACIFIC RUBIALES ENE
78454L100 SM ENERGY CO	4,686	2,276
857477103 STATE STREET CORP	2,414	2,669
86562X106 SUMITOMO MITSUI TR-S
870297801 MLN ELEMENTS ROGERS	17,208	13,226
87157D109 SYNAPTICS INC	2,639	4,337
876568502 TATA MTRS LTD ADR
88019R641 TEMPLETON FRONTIER M	44,000	37,940
90130A101 TWENTY FIRST CENTURY	2,973	4,801
902641646 E-TRACS ALERIAN MLP	8,870	9,460
90347A100 UBIQUITI NETWORKS IN	3,604	2,697
909218109 UNIT CORP
92937A102 WPP PLC NEW ADR	3,217	5,205
930059100 WADDELL & REED FINAN
G81477104 SINA CORPORATION
H0023R105 ACE LIMITED	2,847	3,332
00203H859 AQR MANAGED FUTURES	48,843	46,029
00435F200 ACCOR SA - ADR	2,135	1,887
011659109 ALASKA AIR GROUP INC	3,533	5,199
02917T104 AMERICAN REALTY CAPI	1,012	977
032359309 AMTRUST FINANCIAL SE	3,313	4,894
038222105 APPLIED MATERIALS IN	2,481	2,716
05382A104 AVIVA PLC - ADR	2,472	2,116
05566U108 BOFI HOLDING INC	2,847	2,646
05577E101 BT GROUP PLC - ADR	2,469	2,356
118440106 BUCKLE INC COM	3,257	3,256
124830100 CBL & ASSOC PPTYS IN	221	252
12508E101 CDK GLOBAL INC	209	448
12637N204 CSL LTE-SPONSORED AD	1,746	3,182
13057Q107 CALIFORNIA RESOURCES	227	149
151020104 CELGENE CORP COM	2,336	2,908
172967424 CITIGROUP INC.	5,503	6,223
20449X302 COMPASS GROUP PLC -	2,118	2,658
22544R305 CREDIT SUISSE COMM R	34,190	31,858
231021106 CUMMINS INC.	6,767	6,776
243537107 DECKERS OUTDOOR CORP	2,015	1,912
25476E101 DISTRIBUIDORA INT-UN	1,574	1,301
28140H203 EDUCATION REALTY TRU	891	1,025
34988V106 FOSSIL GROUP INC	3,689	4,208
35952Q106 FUCHS PETROLUB SE-PR	2,019	1,747
36162J106 GEO GROUP INC/THE	161	202
36318L104 GALAXY ENTERTAINMENT	1,877	1,235
37253A103 GENTHERM INC	4,556	3,516
379577208 GLOBUS MEDICAL INC -	1,691	1,759
38259P706 GOOGLE INC-CL C	5,224	5,790
434741203 HOLCIM LTD - ADR	2,614	2,441
45069P107 ITV PLC-UNSPON ADR	2,519	2,411
45579E105 INVIVIOR PLC-SPON AD		50
458334109 INTER PARFUMS INC	3,985	3,129
46113M108 INTERVAL LEISURE GRO	3,056	3,050
500472303 PHILIPS ELECTRONICS	1,539	1,392
500631106 KOREA ELECTRIC POWER	1,249	1,162
50106A402 KROTON EDUCACIONAL-S	1,556	1,292
50540R409 LABORATORY CRP OF AM	3,854	3,884
516012101 LANNETT INC	2,946	2,873
526107107 LENNOX INTERNATIONAL	1,574	1,616
535223200 LINDE AG ADR	1,670	1,643
539439109 LLOYDS BANKING GROUP	2,468	2,250
57636Q104 MASTERCARD INC	2,714	3,102
603158106 MINERALS TECHNOLOGIE	3,847	4,306
611740101 MONSTER BEVERAGE COR	2,627	4,009
654624105 NIPPON TELEGRAPH AND	1,496	1,204
68163W109 OLYMPUS CORPORATION	1,877	2,040
683974604 OPPENHEIMER DEVELOPI	57,273	56,703
69924R108 PARAMOUNT GROUP INC	1,424	1,431
714264207 PERNOD-RICARD SA-UNS	1,277	1,186
74925K581 ROBECO BP LNG/SHRT R	48,843	48,306
749660106 RPC INC	3,008	2,712
759673403 RENAULT SA-UNSP ADR	922	819
772739207 ROCK-TENN CO CL A	3,964	4,756
78463X863 SPDR DJ WILSHIRE INT	76,357	71,002
786584102 SAFRAN SA-UNSPON ADR	2,199	2,091
80007R105 SANDS CHINA LTD-UNSP	2,955	1,871
82481R106 SHIRE PLC ADR	1,425	1,700
83416B109 SOLARWINDS INC	1,987	2,242
835699307 SONY CORPORATION - A	1,583	1,515
862121100 STORE CAPITAL CORP	615	670
866674104 SUN CMNTYS INC COM	1,325	1,572
86803T104 SUNTORY BEVERAGE & F	1,194	1,121
869587402 SVENSKA CELLULOSA AK	1,205	1,117
87155N109 SYMRISE AG ADR	1,655	1,860
913004107 UNITED STATIONERS IN	4,268	4,258
91307C102 UNITED THERAPEUTICS	3,158	4,014
92220P105 VARIAN MED SYS INC	3,844	3,979
939647103 WASHINGTON PRIME GRO	496	672
G0083B108 ACTAVIS PLC	3,026	3,604
G5480U104 LIBERTY GLOBAL PLC-A	2,434	2,811
H42097107 UBS GROUP AG	2,781	2,336
N63218106 NIELSEN N.V	2,651	2,773
P31076105 COPA HOLDINGS SA	1,651	1,555

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
123998007 CHAMBERS STREET PROP
04315J860 ARTIO GLOBAL HIGH IN
693390304 PIMCO LOW DURATION F
72369B406 PIONEER HIGH YIELD
949917538 WELLS FARGO ADVANTAG
957663107 WESTERN ASSET LIMITE
261980494 DREYFUS EMG MKT DEBT
693390882 PIMCO FOREIGN BD FD
ASGI AGILITY INCOME FUND
025083320 A,EROCAM CENTURY SMA
89155H256 TOUCHSTONE SMALL CAP
784924425 SSGA EMERGIN MKT
ASGI MESIROW INSIGHT TEI FUND
G0457F107 ARCOS DORADOS HOLDIN
404280406 HABC - ADR
641069406 NESTLE S.A. REGISTER
670100205 NOVO NORDISK A/S - A
767204100 RIO TINTO PLC - ADR
771195104 ROCH HOLDINGS
780259206 ROYAL DUTCH SHELL
89151E109 TOTAL S.S. -ADR
008474108 AGNICO EAGLE MINES
12626K203 CRH PLC - ADR
H27178104 FOSTER WHEELER AG
H2906T109 GARMIN LTD
G47791101 INGERSOLL-RAND PCL
760975102 RESEARCH IN MOTION
83172R108 SMART TECHNOLOGIES
H8817H100 TRANSOCEAN LTD
H27013103 WEATHERFORD INTERNAT
465562106 ITAU UNIBANCO BANCO
009126202 AIR LIQUIDE - ADR
018805101 ALLIANZ SE
02364W105 AMERICA MOVIL S.A.B.
042068106 ARM HOLDINGS PLC - A
049255706 ATLAS COPCO AB
055434203 BG GROUP PLC - ADR
G16962105 BUNGE LIMITED
136375102 CANADIAN NATL RR CO
138006309 CANON INC - ADR
143658300 CARNIVAL CORP
16940R109 CHINA RESOURCES ENTE
191459205 COCHLEAR LIMITED
12637N105 CSL LIMITED
237545108 DASSAULT SYSTEMES S.
23304Y100 DBS GROUP HOLDINGS L
296036304 ERSTE GROUP BANK
307305102 FANUCA CORP
358029106 FRESENIUS MEDICAL
44351103 HOYA CORP
404280406 HSB - ADR
45104G104 ICICI BANK LD
453038408 IMPERIAL OIL LTD
466160100 JSC CORP
48206M102 JUPITER TELECOM - UN
502117203 L'OREAL - ADR
501897102 LI & FUNG LTD
54338V101 LONZA GROUP AG
502441306 LVMH MOET HENNESSY
62474M108MTN GROUP LTD
641069406 NESTLE S.A. REGISTER
66987V109 NOVARTIS AG - ADR
71654V101 PETROLEO BRASILEIRO
N72482107 QIAGEN N.V
771195104 ROCHE HOLDINGS LTD
803054204 SAP AG - ADR
803866300 XZXOL LIMITED - ADR
806857108 SCHLUMBERGER LTD
80687P106 SCHNEIDER ELECTRIC
83569C102 SONOVA HOLDING
870123106 SWATCH GROUP
874039100 TAIWAN SEMICONDUCTOR
881575302 TESCO PLC - ADR
900148701 TURKIYE GARANTI BANK
90460M105 UNICHARM CORP
904767704 UNILEVER PLC - ADR
933114W107 WALMART DE MEXICO
92933H101 WPP GROUP PLC
368287207 OAO GAZPROM LEVEL 1
465562106 ITAU UNIBANCO BANCO
928662402 VOLKSWAGEN AG PFD
00687A107 ADIDAS-AG
042068106 ARM HOLDINGS PLC - A
045387107 ASSA ABLOY AB
055434203 BG GROUP PLC - ADR
136385101 CANADIAN NAT
136375102 CANADIAN NATL RR CO
138006309 CANON INC - ADR
143658300 CARNIVAL CORP
M22465104 CHECK POINT SOFTWARE
126132109 CNOOC - CHINA NATION
225401108 CREDIT SUISSE GROUP
237545108 DASSAULT SYSTEMES S
29082A107 EMBRAER SA
307305102 FANUC CORP
343793105 FLSMIDTH & CO A/S
358029106 FRESENIUS MEDICAL CA
41043M104 HANG LUNG PPTYS
425883105 HENNES & MAURITZ AB
43858F109 HONG KONG EXCHANGES
455807107 INDUSTRIAL AND COMME
456837103 ING GROEP N.V.
48667L106 KIDDI CORP
4957244030 KINGFISHER PLC - AD
500458401 KOMATSU LIMITED
501897102 LI & FUNG LTD
502441306 LVMH MOET HENNESSY
606822104 MITSUBISHI UFJ FINL
641069406 NESTLE S.A. REGISTER
66987V109 NOVARTIS AG - ADR
670100205 NOVO NORDISK A/S
73755L107 POTASH CORP SASK
74463M106 [IB;OCS GROUPE S.A.
756255105 RECKITT BENCHISER GR
78572M105 SABMILLER PLC - ADR
803054204 SAP AG - ADR
80585Y308 SBERBANK OF RUSSIA
806857108 SCHLUMBERGER LTD
826197501 SIEMENS AG - ADR
870123106 SWATCH GROUP AG
878742204 TECK RESOURCES
879382208 TELFONICA SA - ADR
880032Q109 TENCENT HOLDIGNS LI
88155302 TESCO PLCE - ADR
881624209 TEVA PHARMACEUTI
892331307 TOYOTA MOTOR CORP
900148701 TURKIYE GARANTI
92857W209 VONAFONE GROUP PLC
93114W107 WALMART DE MEXICO
N97284108 YANDEX NV
26613Q106 DUPONT FABROS TECHNO
024013104 AMERICAN ASSETS TRUS
024835100 AMERICAN CAMPUS CMNT
035710409 ANNALY CAPITAL MANAG
03748R101 APARTMENT INVT & MGM
044103109 ASHFORD HOSPITALITY
053484101 AVALONBAY CMNTYS
101121101 BOSTON PROPERTIES
05564E106 BRE PPTYS INC CL
133131102 CAMDEN PPTY TR
195872106 COLONIAL PPTYS TR CO
253868103 DIGITAL RLTY TR
25960P109 DOUGLAS EMMETT INC
28140H104 EDUCATION RLTY TR
29380T105 ENTERTAINMENT PPTYS
29472T108 EQUITY LIFESTYLE PPT
294752100 EQUITY ONE INC
29476L107 EQUITY RESID. PPTYS
297178105 ESSEX PPTY TR COM
30225T102 EXTRA SPACE STORAGE
3137140206 FEDERA RLTY INVT
370023103 GENERAL GROWTH PROPE
379302102 GLIMCHER RLTY TR
40414L109 HCP INC
42217K106 HEALTH CARE REIT INC
427825104 HERSHA HOSPITALITY
431284108 HIGHWOODS PPTYS INC
44107P104 HOST HOTELS & RESORT
49446R109 KIMCO RLTY
517942108 LASALLE HOTEL PROPER
554382101 MACERICH CO COM
74340W103 PROLOGIS INC
69360J107 PS BUSINESS PARKS
74460D109 PUBLIC STORAGE
751452202 RAMCO-GERSHENSON PPT
828806109 SIMON PROPERTY GROUP
78440X101 SL GREEN REALTY
876664103 TAUBMAN CTRS INC
92276F100 VENTAS INC COM
929042109 VORNADO REALTY
03524A108 ANHEUSER-BUSCH
088606108 BHP BILLITON LIMITED
G24140108 COOPER INDUSTRIES PL
25243Q205 DIAGEO PLC - ADR
641069406 NESTLE S.A. REGISTER
66987V109 NOVARTIS AG - ADR
806857108 SCHLUMBERGER LTD
881624209 TEVA PHARMACEU
92857W209 VODAFONE GROUP PCL N
4812C0803 JPMORGAN HIGH YIELD
52469E807 WESTERN ASSET SHRT-T
70299RF16 PARTNERS GROUP PRIV
72201P522 PIMCO EM MKTS CORP B
AUR992408 AURORA DIVERSIFIED I
GRA991003 GRAHAM ALT INV FUND
GTC997004 GAI CORBIN MULTI STR	AT COST	50,000	52,369
GTY995004 GAI AGILITY INCOME F	AT COST	110,000	118,215
RCI991006 RICI LINKED PAM TOTA	AT COST	45,000	34,805
GRA994205 GRAHAM ALT INV FD II
GTA994003 GAI AURORA OPPORTUNI	AT COST	79,312	79,943
70299HB53 PARTNERS GROUP PRIV	AT COST	5,564	5,564

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
GRANT ADMIN FEES	1,313	0	1,313
ADR FEES	310	310	0
PARTNERSHIP OTHER DEDUCTIONS		1,053	0

Description	Revenue And Expenses Per Books	Net Investment Income
FEE REBATES	1,081	1,081
MUTUAL FUND - OTHER INCOME	429	429
PARTNERSHIP INTEREST INCOME		26
PARTNERSHIP OTHER INCOME		12,961
PARTNERSHIP NET ST LOSS		-290

Category	Amount	Net Investment Income
FOREIGN TAXES	688	688
FEDERAL TAX PAYMENT - PRIOR YE	292	0
FEDERAL ESTIMATES - PRINCIPAL	980	0
FOREIGN TAXES ON QUALIFIED FOR	376	376
FOREIGN TAXES ON NONQUALIFIED	263	263